Prudential Bank loan to NPP no big deal – Hackman

Going for loan to finance a political party’s campaign during elections is nothing new and the move to make the New Patriotic Party (NPP) look bad with the Prudential Bank loan will not wash, ex-minister Hackman Owusu-Agyemang has said.

Officials of Prudential Bank Limited are on the heels of the NPP to repay an overdraft facility of Gh¢1.5 million during the 2012 elections. According to an official bank notice, the main opposition party in Ghana has refused to make arrangement to repay the loan which has accrued to Gh¢2,290,631.36 due to interest.

The notice of demand from the bank which was addressed to the national chairman and the director of the NPP Election 2012 Fundraising Committee and copied to Ken Ofori Atta and Keli Gadzekpo of Data Bank (guarantors) said: “As indicated in our letter under reference, the Bank of Ghana Supervision Department has picked the Party’s account for downgrading due to nonperformance. This require the Audit and Risk Management Sub-Committee of the Bank’s Board to take action to recover the debt.”

Responding to reports surrounding the leaked document, the former Minister of Works and Housing said it was borne out of “mischief”.

He told Bola Ray on Starr Chat on Wednesday that “there is no big deal” about it because it is normal for parties to solicit for funds to run their campaign.

“After elections whether we win or don’t win we go round soliciting for money. It’s no big deal and we do it all the time. I have several letters where demand is made of me [as the financial of the party] to pay loans,” the former Interior Minister noted.